Health Care Sector Update for 07/02/2019: CUR,AMRN,NTGN
Top Health Care Stocks
Health care stocks were mixed, including a 0.2% increase for the NYSE Health Care Index in recent trading while shares of health care companies in the S&P 500 also were down almost 0.1% as a group. The Nasdaq Biotechnology index was falling nearly 0.4%.
Among health care stocks moving on news:
(+) Neuralstem ( CUR ) rose 6.7% after late Monday saying its its NSI-566 lead stem cell asset showed encouraging results during phase I testing in patients with motor deficits resulting from ischemic stroke. The therapy also was well tolerated at all dose levels and the subjects all demonstrated stable increases in their Fugl-Meyer Motor Scores compared with their baseline levels, indicating the procedure may have potential benefit to stroke patients.
In other sector news:
(+) Amarin ( AMRN ) climbed nearly 14% after the drugmaker raised its FY19 revenue forecast and also said it was doubling its US sales force to support the commercial rollout for its Vascepa medication to lower cardiovascular risk. It sees revenue this year in a range of $380 million to $420 million, up from its prior outlook expecting around $350 million in revenue and straddling the $401.1 million Street view.
(-) Neon Therapeutics ( NTGN ) tumbled almost 7% after the immuno-oncology company late Monday disclosed plans to raise up to $200 million through a mixed shelf offering, including common and preferred stock, warrants, units and debt securities. Net proceeds will be used for general corporate, which could include funding research and development, clinical trials, product manufacturing or potential strategic acquisitions.
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